CoreWeave (NASDAQ:CRWV) Shares Down 1.7% Following Insider Selling

CoreWeave Inc. (NASDAQ:CRWV) shares dropped 1.7% on Wednesday after an insider sold shares in the company. The stock traded as low as $78.55 and last traded at $78.87. Approximately 11,914,277 shares were traded during mid-day trading, a decline of 52% from the average daily volume of 24,860,682 shares. The stock had previously closed at $80.26.

Specifically, insider Brannin Mcbee sold 63,835 shares of the stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $85.30, for a total value of $5,445,125.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Brannin Mcbee sold 102,835 shares of CoreWeave stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $85.30, for a total value of $8,771,825.50. Following the sale, the insider directly owned 185,181 shares of the company’s stock, valued at approximately $15,795,939.30. This trade represents a 35.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In other CoreWeave news, CEO Michael N. Intrator sold 50,000 shares of the stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $65.47, for a total value of $3,273,500.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Analyst Upgrades and Downgrades

CRWV has been the subject of several analyst reports. JMP Securities upgraded CoreWeave from a “market perform” rating to a “market outperform” rating and set a $180.00 target price for the company in a research report on Tuesday, September 16th. HC Wainwright reissued a “buy” rating and set a $180.00 price objective on shares of CoreWeave in a research note on Wednesday, November 12th. JPMorgan Chase & Co. restated a “neutral” rating and set a $110.00 price objective on shares of CoreWeave in a report on Tuesday, November 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CoreWeave in a research note on Monday. Finally, Compass Point initiated coverage on shares of CoreWeave in a report on Thursday, November 13th. They issued a “buy” rating and a $150.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $127.70.

CoreWeave Stock Performance

The stock has a market cap of $30.48 billion and a P/E ratio of -54.39. The company has a debt-to-equity ratio of 2.66, a current ratio of 0.49 and a quick ratio of 0.49. The stock’s 50 day simple moving average is $93.89 and its two-hundred day simple moving average is $116.59.

CoreWeave (NASDAQ:CRWV) last posted its quarterly earnings data on Monday, November 10th. The company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.14. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.28 billion. The firm’s quarterly revenue was up 133.7% on a year-over-year basis. During the same period in the prior year, the company earned ($1.82) earnings per share.

Institutional Investors Weigh In On CoreWeave

A number of institutional investors and hedge funds have recently modified their holdings of CRWV. Costello Asset Management INC boosted its position in CoreWeave by 33.3% during the second quarter. Costello Asset Management INC now owns 400 shares of the company’s stock worth $65,000 after purchasing an additional 100 shares during the period. Chilton Capital Management LLC lifted its stake in shares of CoreWeave by 50.2% during the 3rd quarter. Chilton Capital Management LLC now owns 362 shares of the company’s stock worth $50,000 after buying an additional 121 shares during the last quarter. Family Legacy Financial Solutions LLC boosted its holdings in shares of CoreWeave by 166.7% during the 3rd quarter. Family Legacy Financial Solutions LLC now owns 200 shares of the company’s stock worth $27,000 after buying an additional 125 shares during the period. CoreCap Advisors LLC grew its stake in CoreWeave by 29.6% in the 3rd quarter. CoreCap Advisors LLC now owns 644 shares of the company’s stock valued at $88,000 after buying an additional 147 shares during the last quarter. Finally, Pittenger & Anderson Inc. grew its stake in CoreWeave by 36.0% in the 3rd quarter. Pittenger & Anderson Inc. now owns 680 shares of the company’s stock valued at $93,000 after buying an additional 180 shares during the last quarter.

CoreWeave Company Profile

CoreWeave is a U.S.-based provider of GPU-accelerated cloud infrastructure designed to support compute-intensive workloads such as artificial intelligence, machine learning, visual effects rendering and other high-performance computing applications. The company supplies access to large fleets of modern GPUs and complementary infrastructure that enable customers to train and deploy large models, run inference at scale, and process graphics-heavy workloads with low latency and high throughput.

CoreWeave’s product offering includes on-demand and dedicated GPU instances, bare-metal servers, private clusters and managed services tailored for enterprise and developer use.